Guangzhou Wahlap Technology (SZ:301011) Zheng Quan Zhi Xing·2025-08-12 16:23Core Viewpoint - The company is taking measures to address the potential dilution of immediate returns due to its upcoming stock issuance, ensuring that small and medium investors are informed and their interests are protected [1][2][4]. Financial Impact Analysis - The total amount to be raised from the issuance is 148.6 million yuan, with an estimated issuance of 6,137,959 shares, increasing the total share capital to 152,829,959 shares [1][2]. - The projected net profit for 2024 is 84.65 million yuan, with a net profit of 83.20 million yuan after excluding non-recurring gains and losses [1][2]. - Three scenarios for 2025 net profit calculations are provided: 1. No change from 2024 2. A 20% increase from 2024 3. A 20% decrease from 2024 [3][4]. Earnings Per Share (EPS) Projections - Under the assumption of no change in net profit, the basic and diluted EPS would decrease from 0.58 yuan to 0.57 yuan post-issuance [3]. - If net profit increases by 20%, the EPS would rise to 0.68 yuan [3]. - If net profit decreases by 20%, the EPS would drop to 0.46 yuan [3]. Company’s Business and Market Position - The company specializes in the design, research and development, production, sales, and operation of indoor commercial gaming equipment, establishing a complete industrial chain advantage [5][6]. - The management team has over 35 years of industry experience, contributing to a strong brand image and competitive advantages in product development and market resources [5][6]. - The company aims to enhance its product offerings and market presence through the issuance, particularly focusing on anime card devices [5][7]. Commitment to Shareholder Returns - The company has outlined specific measures to mitigate the dilution of immediate returns, including enhancing project execution, improving governance, and adhering to dividend policies [8][9]. - A three-year shareholder return plan (2025-2027) has been established to clarify profit distribution principles and ensure the protection of shareholder interests [10]. Commitment from Company Executives - Company executives have made commitments to uphold the measures designed to mitigate the dilution of immediate returns, ensuring no unfair benefit is provided to others at the company's expense [11][12].